KEY FY 2018 Earnings Report — KeyCorp Revenue & Financial Results | Market Cap Arena

FY 2018 Earnings

Reported February 25, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$7.1B	—	$6.7B	—	6.7%
Op. Income	$2.2B	—	$1.9B	—	14.3%
Gross Margin	82.9%	—	87.4%	—	-4.4pp
Net Margin	26.2%	—	19.4%	—	6.8pp
EPS (Diluted)	$1.71	—	$1.13	—	51.3%
Free Cash Flow	$2.4B	—	$1.7B	—	41.3%

Revenue Flow

Item	Amount
REVENUE	$7.1B
Cost of Revenue	$1.2B
GROSS PROFIT	$5.9B
R&D Expenses	$0
Selling & Marketing	$102M
General & Administrative	$2.5B
SG&A Expenses	$2.6B
Other Expenses	$1.1B
Operating Expenses	$3.7B
Cost & Expenses	$4.9B
OPERATING INCOME	$2.2B
Interest Income	$4.9B
Interest Expense	$969M
Other Income/Expenses	$0
INCOME BEFORE TAX	$2.2B
Income Tax Expense	$344M
Net Income from Continuing Ops	$1.9B
Net Income from Discontinued Ops	$7M
Other Adjustments	$0
NET INCOME	$1.9B
Net Income Deductions	-$66M
BOTTOM LINE NET INCOME	$1.8B
D&A	$382M
EBIT	$2.2B
EBITDA	$2.6B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$7.1B
Cost of Revenue	$1.2B
GROSS PROFIT	$5.9B
R&D Expenses	$0
Selling & Marketing	$102M
General & Administrative	$2.5B
SG&A Expenses	$2.6B
Other Expenses	$1.1B
Operating Expenses	$3.7B
Cost & Expenses	$4.9B
OPERATING INCOME	$2.2B
Interest Income	$4.9B
Interest Expense	$969M
Other Income/Expenses	$0
INCOME BEFORE TAX	$2.2B
Income Tax Expense	$344M
Net Income from Continuing Ops	$1.9B
Net Income from Discontinued Ops	$7M
Other Adjustments	$0
NET INCOME	$1.9B
Net Income Deductions	-$66M
BOTTOM LINE NET INCOME	$1.8B
D&A	$382M
EBIT	$2.2B
EBITDA	$2.6B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$1.9B
Depreciation & Amortization	$382M
Stock-Based Compensation	$99M
Deferred Income Tax	$98M
Other Non-Cash Items	$74M
Change in Working Capital	-$13M
OPERATING CASH FLOW	$2.5B
Capital Expenditure	-$99M
Acquisitions (Net)	$124M
Purchases of Investments	-$4.0B
Sales/Maturities of Investments	$4.9B
Other Investing Activities	-$3.4B
NET CASH FROM INVESTING	-$2.5B
Net Debt Issuance	-$722M
Common Stock Repurchased	-$1.1B
Common Dividends Paid	-$656M
Other Financing Activities	$2.0B
NET CASH FROM FINANCING	-$17M
FREE CASH FLOW	$2.4B
Net Change in Cash	$7M

Balance Sheet

Item	Amount
Cash & Equivalents	$678M
Short-Term Investments	$22.0B
Net Receivables	$4.6B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$27.2B
PP&E (Net)	$882M
Goodwill	$2.5B
Intangible Assets	$316M
Long-Term Investments	$98.6B
Tax Assets	$0
Other Non-Current Assets	$10.0B
TOTAL NON-CURRENT ASSETS	$112.4B
TOTAL ASSETS	$139.6B
Account Payables	$0
Short-Term Debt	$863M
Deferred Revenue	$0
Other Current Liabilities	$107.3B
TOTAL CURRENT LIABILITIES	$110.3B
Long-Term Debt	$13.7B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$692M
Other Non-Current Liabilities	-$12.2B
TOTAL NON-CURRENT LIABILITIES	$13.7B
TOTAL LIABILITIES	$124.0B
Common Stock	$1.3B
Additional Paid-In Capital	$6.3B
Retained Earnings	$11.6B
Treasury Stock	-$4.2B
Accum. Other Comp. Income	-$818M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$15.6B
Minority Interest	$1M
TOTAL EQUITY	$15.6B
TOTAL LIABILITIES & EQUITY	$139.6B
Total Debt	$14.6B
Net Debt	$13.9B